Business and consumer confidence in the 15 nations that share the euro fell to a 15-year low in October, the European Commission said Thursday, as a credit crunch hits consumer spending and forces companies to shed jobs.

South Korea's benchmark stock index soared a record 12 percent Thursday and the won surged the most in nearly 11 years after a currency deal between the U.S. and South Korea eased fears about a possible dollar shortage.

World stock markets ended mostly higher Wednesday but many retreated from their session peaks as investors returned to fretting about corporate earnings in a global recession and a rally on Wall Street fizzled.

European stock markets closed mostly higher Wednesday on expectations of interest rate cuts around the world starting with the U.S. Federal Reserve, while U.S. stocks were up for the second day running.